Industry welcomes budget's focus on delivery, resource mobilisation, modernisation
Updated: Jul 08, 2014 05:32:31pm
New Delhi, Jul 8 (KNN) Industry associations across the country have welcomed the Railway Budget presented in Parliament today, referring to it as smart and businesslike with focus on delivery, resource mobilisation, modernisation and capacity building. Best of all, it throws immense opportunities for small businesses.
“Given that the Railway Budget supports activities of the MSME sector, it is certainly a welcome step. If today’s announcement is implemented, small units will be able to take their business directly to the railways, especially since the small units have so far only been assisting larger suppliers of the railways,” Past President, FISME (Federation of Indian Micro, Small and Medium Enterprises), V K Agarwal said.
Admitting that it is quite a task to implement the budget, Agarwal called for interaction between the Department of Railways and prospective entrepreneurs for information to be disseminated effectively and for a suitable match to be fixed.
“While entrepreneurs need to know of the opportunities available to them, the Railways needs to identify units with the proper capabilities. For this to happen, we need a neutral platform which industry associations like FISME can provide,” he said.
Also commenting on the new budget, ASSOCHAM said, “The Railway Budget is banking heavily on involvement of the private investment- both domestic and overseas on modernization and a smart functioning of the country’s largest transport operator,” adding that the emphasis is clearly on improving efficiencies, passenger amenities with promise to take them to global standards and the much-needed safety of passengers.
It opens up vast opportunities for the public-private-partnership in a whole gamut of areas including cleanliness, upkeep of major stations like the airports, IT infrastructure. The smart strategy lies in trying to get the new businesses out of the sheer necessities and ordinary looking but important services such as catering, the Associated Chambers of Commerce and Industry of India (ASSOCHAM) said in a press release today.
On the other hand, Federation of Indian Chambers of Commerce and Industry (FICCI) has welcomed the focus on resource mobilisation in this year's rail budget.
“The Railway Minister has tried to put the railways back on track and attempted a balance between commercial and social obligations. We welcome the proposal for financing bulk of future projects through PPP route that will help overcome the constraint of low investment, enhance connectivity and accelerate the process of modernisation," FICCI President, Sidharth Birla said.
In a statement released here today, FICCI has highlighted other notable measures included such as proposal of starting bullet trains between Mumbai and Ahmedabad, developing a diamond quadrilateral network of high speed trains connecting major metros and growth centres in the country, increasing speed of trains in select sectors, target of nearly 1000 kms of civil construction contracts towards implementation of dedicated freight corridors in the east and west, green initiatives such as harnessing solar energy by utilizing rooftop spaces through PPP mode, and development of eco-tourism and education tourism in north-east states.
Meanwhile, President, Federation of Indian Export Organisations (FIEO) M Rafeeque Ahmed said that the Railway Budget focuses on implementation, IT and privatization which will go a long way in improving the functioning of Indian Railways with added user satisfaction. Privatization and FDI will augment the internal resources of Railways to fund its expansion and modernization.
Development of locomotives, coaches and aggressive indigenization of imported products would develop capabilities in Railways and downstream industries which will open opportunities for exports as well, added President, FIEO. (KNN/ES)
“Given that the Railway Budget supports activities of the MSME sector, it is certainly a welcome step. If today’s announcement is implemented, small units will be able to take their business directly to the railways, especially since the small units have so far only been assisting larger suppliers of the railways,” Past President, FISME (Federation of Indian Micro, Small and Medium Enterprises), V K Agarwal said.
Admitting that it is quite a task to implement the budget, Agarwal called for interaction between the Department of Railways and prospective entrepreneurs for information to be disseminated effectively and for a suitable match to be fixed.
“While entrepreneurs need to know of the opportunities available to them, the Railways needs to identify units with the proper capabilities. For this to happen, we need a neutral platform which industry associations like FISME can provide,” he said.
Also commenting on the new budget, ASSOCHAM said, “The Railway Budget is banking heavily on involvement of the private investment- both domestic and overseas on modernization and a smart functioning of the country’s largest transport operator,” adding that the emphasis is clearly on improving efficiencies, passenger amenities with promise to take them to global standards and the much-needed safety of passengers.
It opens up vast opportunities for the public-private-partnership in a whole gamut of areas including cleanliness, upkeep of major stations like the airports, IT infrastructure. The smart strategy lies in trying to get the new businesses out of the sheer necessities and ordinary looking but important services such as catering, the Associated Chambers of Commerce and Industry of India (ASSOCHAM) said in a press release today.
On the other hand, Federation of Indian Chambers of Commerce and Industry (FICCI) has welcomed the focus on resource mobilisation in this year's rail budget.
“The Railway Minister has tried to put the railways back on track and attempted a balance between commercial and social obligations. We welcome the proposal for financing bulk of future projects through PPP route that will help overcome the constraint of low investment, enhance connectivity and accelerate the process of modernisation," FICCI President, Sidharth Birla said.
In a statement released here today, FICCI has highlighted other notable measures included such as proposal of starting bullet trains between Mumbai and Ahmedabad, developing a diamond quadrilateral network of high speed trains connecting major metros and growth centres in the country, increasing speed of trains in select sectors, target of nearly 1000 kms of civil construction contracts towards implementation of dedicated freight corridors in the east and west, green initiatives such as harnessing solar energy by utilizing rooftop spaces through PPP mode, and development of eco-tourism and education tourism in north-east states.
Meanwhile, President, Federation of Indian Export Organisations (FIEO) M Rafeeque Ahmed said that the Railway Budget focuses on implementation, IT and privatization which will go a long way in improving the functioning of Indian Railways with added user satisfaction. Privatization and FDI will augment the internal resources of Railways to fund its expansion and modernization.
Development of locomotives, coaches and aggressive indigenization of imported products would develop capabilities in Railways and downstream industries which will open opportunities for exports as well, added President, FIEO. (KNN/ES)
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